Swift initiative aims to transform cross-border payments

More than 70 banks worldwide collaborate to offer greater speed, transparency and end-to-end tracking

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Payments infrastructure company Swift announced on June 28 that 73 banks worldwide have joined its global innovation initiative, designed to improve the efficiency of cross-border payments.

As part of the endeavour, which went live with a pilot scheme focused on business-to-business payments, banks will be able to enhance their approach to cross-border payments and follow a set of strict business rules designed by Swift in collaboration with participating banks.

It is expected that the first

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